III.
PUBLIC FINANCE AND TAXATION.
The Revenue and Expenditure figures since 1st May 1946 are as follows:-
Revenue Expenditure Surplus
$
$
1946/47 (11 months)
1947/48
82,141,556 164,298,310
85,624,391
127,701,174 36,597,136
1948/49
1949/50
194,933,955 159,954,023 34,979,932 264,250,543 182,121,726 82,128,817
Deficit
$
3,482,835
1950/51 (Estimates)
204,139,480 200,839,083 3,300,397
The cumulative surplus at 31st March 1950 amounted to $154,152,842.
Present indications are that the surplus for 1950/51 will be higher than the figure of $3,300,397 originally estimated.
Revenue
The principal revenue items for 1948/49 and 1949/50 in round figures were:
1948/49
1949/50
(a) Duties on Liquor, Hydrocarbon Oils,
Tobacco, Proprietary Medicines, etc. 41,111,000 68,797,000
(b) Rates (Assessed Taxes)
(c) Internal Revenue, including Enter-
tainment Tax, Estate Duty, Stamp Duties, Meals & Liquor Tax, Betting & Sweeps Tax, Earnings & Profits Tax and Dance Hall Tax
(d) Water Revenue
(e) Postal Revenue
(f) Kowloon Canton Railway
(g) Miscellaneous Fees, Payments for Services and Sales of Government Property
(h) Miscellaneous Licences, Fines and
Forfeitures
-
(i) Miscellaneous Receipts, including
Royalties
14,984,000 19,286,000
70,513,000 72,580,000 6,312,000 7,657,000 9,325,000 12,235,000
7,000,900 7,678,000
14,342,000 22,677,000
13,195,000 13,292,000
6,785,000 10,553,000
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